Home Ready 97 Loan Program

Home Ready 97

Fannie Mae Home Ready Program was created in December 2015 to aid households in lower-income neighborhoods and in minority-heavy areas get access to low down payment mortgages at today’s current rates.  Below are highlights of the program:

  • Does not need to be a First-Time Home Buyer
  • Non-occupying borrower can help qualify
  • Down payment as low as 3 Percent
  • Fees and Mortgage Insurance requirements are lower than standard 97% conventional loans
  • Income for non-borrowing household members can be used as a compensating factor to allow higher debt-to-income ratios
  • No minimum borrower contribution
  • Flexible sources of funds can be used for down payment and closing costs.
  • Mandatory borrower education required


Call us today to see if you qualify for this program 631-589-3600

Home Ready Loan

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